Higher government spending could reduce Papua New Guinea’s debt burden, says economist Satish Chand

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Papua New Guinea’s debt levels relative to the size of its economy could actually go down if the government increased spending, according to Satish Chand, Professor of Finance in the School of Business at the University of New South Wales. Mounting an argument that goes against conventional wisdom, he contends that as long as the government investment is well managed and receives a strong return, the long term benefits will outweigh the short term risks.

In brief: Inflation expected to be 6 per cent, UNDP claims ‘timely’ expenditure reporting and POMSoX trading down 43 per cent

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In brief: Inflation expected to hit 6 per cent, UNDP claims ‘timely’ expenditure reporting and POMSoX trading down 43 per cent

Consumer trust the key to boosting mobile banking in the Pacific

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The key to boosting the use of mobile phone banking services in the Pacific is ‘trust’ in the system, particularly as mobile phone providers themselves begin providing financial services, according to a new report by the Asian Development Bank (ADB).

In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories

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Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.

Papua New Guinea lenders welcome registry of personal assets

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The creation of a registry of personal assets to be used as loan security will boost the small business sector, according to Moses Liu, the Managing Director of the National Development Bank.

In brief: Ok Tedi mine may resume operations in March, and other business stories

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The Ok Tedi mine expected to start again in March, the US formally withdraws from fishing treaty, and unions call on government to honour superannuation commitments. Your weekly digest of the latest business news.

Key meeting this week to agree on Action Plan to boost major Papua New Guinea power grids

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Hopes are high that an action plan to resolve the problems facing Papua New Guinea’s three main power grids will be endorsed at a key stakeholders’ meeting in Port Moresby this week, according to Gavin Murray, the International Finance Corporation’s (IFC) Country Manager for the Pacific region.

2016 will bring pressure on Papua New Guinea government finances and currency, says Asian Development Bank

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Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank’s economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency.

In brief: Santos rejects takeover bid as ‘opportunistic’, and other business stories

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Wealthy royal families’ bid for Santos rejected, the high cost of domestic violence to business, and poor economic news prompts fall in business confidence. Your weekly digest of the latest business news.

Outsourcing of road design and construction paying off, says Papua New Guinea’s roads chief

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Major road works in Papua New Guinea are now outsourced to the private sector, under a design-and-build model. The result, says the Secretary of the Works Department David Wereh, is improved performance.